Asset Management One Co. Ltd. Raises Holdings in Coterra Energy Inc. $CTRA

Asset Management One Co. Ltd. grew its position in shares of Coterra Energy Inc. (NYSE:CTRA) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 313,613 shares of the company’s stock after purchasing an additional 4,996 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Coterra Energy were worth $7,959,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Coterra Energy by 95.8% during the first quarter. GAMMA Investing LLC now owns 23,421 shares of the company’s stock worth $677,000 after buying an additional 11,459 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Coterra Energy by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 51,425 shares of the company’s stock worth $1,486,000 after buying an additional 1,037 shares during the period. Spire Wealth Management boosted its stake in shares of Coterra Energy by 428.6% during the first quarter. Spire Wealth Management now owns 2,294 shares of the company’s stock worth $66,000 after buying an additional 1,860 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Coterra Energy by 7.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company’s stock worth $3,577,000 after buying an additional 8,726 shares during the period. Finally, Avidian Wealth Enterprises LLC acquired a new stake in shares of Coterra Energy during the first quarter worth about $207,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

CTRA stock opened at $23.65 on Tuesday. The firm has a 50 day moving average of $23.75 and a 200-day moving average of $24.49. Coterra Energy Inc. has a 12-month low of $22.33 and a 12-month high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The company has a market cap of $18.05 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Coterra Energy’s revenue was up 54.6% on a year-over-year basis. As a group, equities analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s dividend payout ratio (DPR) is presently 42.11%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CTRA shares. UBS Group decreased their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Roth Capital decreased their target price on shares of Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Piper Sandler reduced their price objective on shares of Coterra Energy from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, October 21st. Raymond James Financial restated an “outperform” rating and issued a $34.00 price objective (down previously from $38.00) on shares of Coterra Energy in a research report on Thursday, September 11th. Finally, Scotiabank reduced their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 9th. Sixteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.60.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.